The Dallas Fed's Economic Research Department provides information and analysis to the Board of Governors, the Bank's president and the board of directors to assist them in implementing effective monetary policy. The department also is charged with improving the public's understanding of the Federal Reserve System's role in the economy and the rationale for its policy actions. Additionally, staff conduct long-term research in areas of economics that directly or indirectly impact monetary policy.

Current Analysis and Economic Indicators

Providing timely, insightful analysis of current economic conditions is the department's primary goal. Through monthly briefing documents, memos and oral presentations, research staff prepare the president for FOMC meetings and inform the board of directors of changing economic conditions.

To monitor the regional economy, research staff survey representatives of every major industry in the Eleventh District and compile the results in the Dallas Beige Book. The department also produces the Texas Manufactuing Outlook Survey, Texas Index of Leading Indicators, the Texas Industrial Production Index and several indicators of regional conditions.

Economic Education and Public Information

The Dallas Fed Research Department provides professional insight and free-market perspective on a wide range of important public policy issues and economic trends. Several Bank publications—Economic Letter, Staff Papers, and Southwest Economy, among others—are devoted to economic research topics. Staff members speak at business, academic and government meetings and Bank-sponsored conferences, luncheons and workshops.

Long-Term Research

Long-term research interests currently focus on public policy issues, with special emphasis on international trade and finance. Topics include monetary policy, tax reform, energy policy and the economic impact of free-trade legislation. The department's long-term research findings are published in Dallas Fed publications and outside journals. These findings are also presented at Federal Reserve System and other professional meetings.